Question

Q.5:- Answer the following in brief :
9. What is socialism​

Answer 1

Answer:

Here's Your Answer

Explanation:

Socialism is an economic and political system. It is an economic theory of social organization. It states that the means of making, moving, and trading wealth should be owned or controlled by the workers. This means the money made belongs to the workers who make the products, instead of groups of private owners.

Answer 2

Explanation:

Socialism is defined as an economic system in which the means of production are owned not by private individuals but by the community in order that all may share more fairly in the wealth produced.

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